Cumis Auto Insurance

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Company Details
Address:

P.O. Box 5065, 151 North Service Road

City:
Burlington
State:
ON
ZIP Code:
L7R 4C2
Phone Number:
1-800-263-9120
Year Founded
1960
AM Best Rating:
A
Company Rating 0 (0 reviews)

Things to Remember...
  • Cumis is a Canadian company that was established to protect credit unions
  • Cumis offers a loan software program to help its customers gain loans faster
  • Cumis provides a variety of discounts including retirees and customers with college students

A Cumis auto insurance review uncovered a Canadian outfit designed to protect credit unions.

As a subsidiary of CUNA Mutual Group, or Credit Union National Association, founded in 1935, this company was established in 1960.

Cumis Insurance Society has several locations in the U.S. including an important Waverly, Iowa location.

Cumis protects credit union members that are affiliated with CUNA.

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Cumis Auto Insurance Credit Union Programs

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Cumis offers its members programs to help credit union members with their financial struggles. CUNA implemented a mechanical repair program that helps members with repair costs.

The company recognizes that many credit union members do not have an emergency repair fund set aside for their vehicles.

The Mechanical Repair program assist credit union members with those surprise repair bills. It helps the member pay unexpected repair costs while providing the credit union with another opportunity to make money.

This program helps Cumis credit unions attract more members in addition to reducing the number of repossessions as well.

This program also minimizes the number of charge-offs and delinquencies credit unions process.

Cumis Auto Insurance: Loanliner

Loanliner is a software program offered to Cumis Insurance Society credit unions to help process loan applications a lot faster.

This program was recently updated in late 2010 in light of the recent changes to Regulation Z disclosure laws in July 2010.

Credit unions are able to customize their Loanliner software to their needs because these templates have simplified applications with electronic authorization forms for your credit union’s convenience.

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Cumis Auto Insurance Savings Review

Cumis offers special discounts to its members by going beyond the average list of discounts.

They give savings to its members who are:

  • Retired
  • Three-year members
  • Have a college student away at school
  • Have a discontinued alarm system

These discounts are given in addition to the common senior citizen discount or the multiple policy discounts. You can also save if you have never filed a claim with the company.

This company gives special coverage and attention to green or hybrid cars. If you are stranded and in need of emergency assistance, Cumis will send help designed especially for hybrid vehicles.

One example of that specialized assistance includes hotel expense in the event your car is disabled on the highway.

This is an incentive to demonstrate the company’s approval of the hybrid owner’s conscious decision to reduce the amount of emissions currently on the roads today.

Cumis policyholders have the option of two extended coverage packages. One will even protect you if you are driving someone else’s car.

If you have an accident with a car you own or rent that is less than two years old, it will not lose its value at Cumis.

Cumis Auto Insurance Reviews

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This company does not have the best rating for claims payouts, however. There are several lawsuits filed by credit union representatives who believe Cumis should have paid a claim they did not.

  • Cumis Insurance Society recently lost an appeal against Michigan First Credit Union on May 24, 2011.
  • The company was also the defendant in a case with the Alabama Credit Union in February 2011.
  • TCT Federal Credit Union in New York filed a case in March of this year, and Open Lending Services out of Chicago filed another case in May of 2011.
  • In October 2010, Suffolk Federal Credit Union claimed the company did not cover a fidelity bond.

On the other hand, its A.M. Best rating was recently improved in April 2011 to an “A” for its financial strength.

It may be worth doing further research on this company for more information.

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